Get the latest tech news
Snap is cutting 10 percent of its staff
The company had a 20 percent staff cut less than two years ago.
Snap plans to lay off around 10 percent of its employees as the company continues to struggle with declines in the digital advertising market. Its augmented reality glasses were never made widely available, and other hardware projects like a selfie drone were scrapped shortly after launch. The company said the cuts were meant to “best position our business to execute on our highest priorities, and to ensure we have the capacity to invest incrementally to support our growth over time.” The company expects to spend up to $75 million on severance and related costs.
Or read this on The Verge
